Maintain the power to distribute profits to the hands of companies that expose their shareholder rights to "loss"

The case of Al-Rai regarding cash dividends accumulated in banks has elicited many reactions among the financial community and investors, as well as a large number of shareholders of listed companies, or listed by Kuwaitis and residents seeking rights from old distributions of which they knew nothing. .
Kuwait Clearing Company wants to provide a more accurate electronic environment for the transfer of company-approved dividends to "online" shareholders in cooperation with local banks, but legal sources have revealed flaws that can be exploited by executives.
The sources pointed out that these loopholes resulted from the authorization given to certain companies to distribute cash dividends to their shareholders, which would have the effect of jeopardizing the rights of certain owners, particularly small shareholders, because the account allocated to distributions is managed by the issuing company.
She added that some companies were depositing all their dividends in cash, noting that some of them were between one thousand and one hundred thousand dinars, and others exceeding these limits as they exceeded half a million dinars and belonged to their shareholders, including the deceased.
She pointed out that companies that distribute profits through their knowledge or subsidiary management, not through compensation, jeopardize the share of some shareholders who have not received their rights, but the consequences of any money from the bank interest is not known to the beneficiaries. Is it the shareholder or the issuing company?).
She added that dozens of local companies had undergone radical changes in the structure of their shareholders, their boards of directors and their executive directorates, so that the authorization of the signature had been transferred from one person to another, thus allowing the sums accumulated for more than ten years to be paid without the knowledge of the owners who had not sought them. Reality
Financial brokerage companies active in the stock market and clearing in recent days (after issuing a "notice" on the issue) many former shareholders of listed companies, some of which were withdrawn from the market by decision of the Authority financial markets looking for cash distributions that were forgotten years ago.
According to some information, some dividends belonging to small shareholders would not exceed 5 or 10 dinars, or even less, which would prevent the rights holder from taking an interest in these dividends, because their feasibility is hardly realistic, especially since that the request to issue a new check instead of more than 6 months past "Compensation" A fee of 3 JD are collected, which is considered excessive and does not correspond to the value of the check to be issued.
The sources have called for exempting the owners from simple distributions of the payment of these fees, while retaining them in respect of the large sums accumulated from the banks in favor of the heirs and the principal shareholders who have not asked for them for a long time. many years.
She pointed out that old contributions went back before the launch of the "Central Conservation" mechanism, the owners did not know them and did not perceive anything, only after the issue of "Rai" of 100 million forgotten in the accounts of the affected companies distributions, which encouraged shareholders to search for and retrieve information. .
For their part, local business leaders announced that they would announce officially or through a campaign organized for the cumulative amounts of some of them dating back to 15 years, but in part since 1958, date to which some entities were put in place and placed under public control, stressing that "Respected companies protect them," they warned, adding that "some companies exploit what they have so easily. have already been removed from the stock market and others who have problems with the rights of the owners may have been exploited illegally and unlawfully ".